2011-04-29T13:56:57-07:00 2010-12-31 990 2010-01-01 410429399 FIRST ALLIANCE CREDIT UNION FIRS 5072880330 320 Alliance Place NE Rochester MN 55906 Valerie Mathias 5072817609 2011-04-28 2010 2016-02-24 21:20:13Z Kelly McDonough 320 Alliance Place NE Rochester MN 55906 7049605 0 6060 X www.firstalliancecu.com X Cooperative 1932 MN First Alliance Credit Union is a member owned and controlled financial institution providing personalized, competitive deposit and loan services that promote the economic well-being of our present and future members. 7 7 47 10 0 0 0 0 5845256 6082815 478550 707513 0 0 6323806 6790328 0 0 1718114 1351191 1848104 2007387 0 0 0 3645336 2683549 7211554 6042127 -887748 748201 105852713 111977880 94385848 99769998 11466865 12207882 First Alliance Credit Union is a member owned and controlled financial institution providing personalized, competitive deposit and loan services that promote the economic well-being of our present and future members. All income is used to pay operating expenses or returned to members in the form of dividends or services. 0 0 3021064 0 3395164 Pay interest and dividends on amounts deposited by members. 1208425 0 1358066 Provide free checking and cash handling services to members. 1812638 0 2037098 Provide residential mortgage, home improvement, commercial, and other misc. loans to members. 0 0 0 6042127 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 6142 0 1 47 1 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 1 1 1 0 1 0 1 0 1 1 1 0 MN X Kelly McDonough President CEO 5072817602 320 Alliance Place NE Rochester MN 55906 Harold Wobschall 3 X 0 0 0 Greg Eichten 3 X 0 0 0 Scott Hoss 3 X 0 0 0 Jim Loehr 3 X 0 0 0 Bobbi Olson 3 X 0 0 0 Stan Cram 3 X 0 0 0 Jenny Hegland 3 X 0 0 0 Kelly McDonough 50 X X 144491 0 31340 Mark Hettinger 50 X 96030 0 24621 Valerie Mathias 50 X 85171 0 18899 325692 0 74860 1 0 1 0 FiServ 455 Gulph Rd Ste 201 King of Prussia PA 19406 Core Data Processor 283427 Health Partners 8170 33rd Ave S Minneapolis MN 554401309 Health Insurer 270255 Olmsted County PRL 151 4th St SE Rochester MN 559043716 Property Tax Collector 188911 3 0 Interest on Loans 900099 4199768 4199768 0 0 Credit Card Income 522210 173761 173761 0 0 Loan Income & Fees 900099 399774 399774 0 0 Member Service Fees 900099 1309512 1309512 0 0 0 0 0 0 6082815 751552 751552 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 215238 0 259277 0 -44039 -44039 -44039 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6790328 6790328 0 0 0 0 0 0 0 0 1351191 1351191 400552 400552 0 0 0 0 0 0 1155084 1155084 0 0 65537 65537 0 0 262576 262576 0 0 123638 123638 0 0 0 0 0 0 12707 12707 0 0 37063 37063 0 0 0 0 0 0 0 0 0 0 0 0 135361 135361 0 0 166538 166538 0 0 258885 258885 0 0 305374 305374 0 0 0 0 0 0 240140 240140 0 0 47883 47883 0 0 0 0 0 0 88564 88564 0 0 32396 32396 0 0 33592 33592 0 0 323958 323958 0 0 270994 270994 0 0 Credit Card Expense 124302 124302 0 0 Provision for Loan Loss 356000 356000 0 0 Lending Expense 199911 199911 0 0 49881 49881 0 0 6042127 6042127 0 0 1647173 1506552 28769931 27658621 0 0 48998 34893 709060 694032 0 0 68132783 72630110 0 0 135016 138683 7165006 2395781 4522244 4769225 547785 3282754 0 0 0 0 0 0 1339723 1263010 105852713 111977880 1728055 2263702 0 0 0 0 0 0 0 0 0 0 0 0 0 0 92657793 97506296 94385848 99769998 X 0 0 0 0 11466865 12207882 11466865 12207882 105852713 111977880 X 748201 -7184 X 0 1 1 X 0 0 1368022 1368022 0 3809842 1025814 2784028 0 0 0 0 0 1407895 952581 455314 0 579247 417386 161861 4769225 0 Member Deposits 97506296 97506296 SchD_P10_S00_L01 Schedule D, Part X, Line 1 Member Deposits SchD_P10_S00_L02 Schedule D, Part X, Line 2 The Credit Union adopted the income tax standard for uncertain tax positions on January 1, 2009. As a result of the implementation, the Credit Union evaluated its tax positions and determined no uncertain positions exist as of March 31, 2010. X 1 1 X X X 0 0 0 Kelly McDonough 125491 0 19000 0 0 0 10941 0 20399 0 175831 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The Credit Union paid membership dues to Eastwood Golf Course for persons listed in Form 990, Part VII, Section A, Line 1a. Membership entitles the Credit Union to use of club facilities for business development, meetings, and other organizational events. Mark Hettinger Signature Loan X 10000 10000 0 1 1 Mark Hettinger 1st Mortgage Loan X 253300 242445 0 1 1 Valerie Mathias Signature Loan X 10000 6800 0 1 1 Valerie Mathias 1st Mortgage Loan X 463267 434787 0 1 1 694032 Brad's Lawn Care & Snow Removal Son of Director 8822 Grounds Maintenance 0 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 First Alliance Credit Union is a member owned Cooperative. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The governing body, consisting of seven directors, are elected by the membership base. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b Any interim appointment of directors must be ratified by the membership at the next annual meeting. Any amendment to the by-laws must be ratified by the membership at the next annual meeting. F990_P06_S0A_L09 Form 990, Part VI, Section A, Line 9 Harold Wobscall 617 Folwell Lane SW, Rochester, MN 55902; Greg Eichten 4418 4th St NW, Rochester, MN 55901; Scott Hoss 913 8th Ave SW, Rochester, MN 55902; Jim Loehr 6569 65th Ave SE, Rochester, MN 55904; Bobbi Olson 329 10th St NW, Byron, MN 55920; Stan Cram 720 Senario Lane SW, Rochester, MN 55902; Jenny Hegland PO Box 403, Rochester, MN 55903 F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The VP of Finance/CFO prepares Form 990 annually and it is reviewed by the President/CEO for accuracy and completeness prior to transmission. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c All employee policies, including the Conflict of Interest Policy, are reviewed with staff and volunteers annually. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The Personnel Committee reviews and approves officer compensation annually. Increases are based, in part, on industry comparability data. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The organization makes its governing documents and Conflict of Interest Policy available to the public upon demand. Summary financial statements are posted in each branch lobby monthly and in an annual report to the membership. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other changes in net assets or fund balances is equal to net change in unrealized gains/losses on investments during the year.